We Cashed in on the Big Gift From Big Lots Today

Market Shadows doesn’t mind taking favors from overreactions. Close-out retailer Big Lots (BIG) jumped dramatically on the opening and just beyond, after reporting fourth quarter results that beat estimates on an adjusted basis.

We sold our 100 share position for a very nice price of $35.91 locking in a 26.2% gain. We think other retail names are more attractive after today’s price surge in BIG.

The $3,591 will now go into our cash reserves bringing the total to about $7,321. Follow all our closed-out and current equity positions at Market Shadows' Virtual Value Portfolio.